Ethereum (ETH), the second-largest digital currency by market cap, is now making waves beyond this role as it outperforms certain companies in the S&P 500 using a distinctive measure. As per recent data from crypto analysis firm Token Terminal, Ethereum holds the 16th position for buyback yield.
Based on the provided list, Ethereum surpasses companies like Tesla Inc. led by Elon Musk and financial powerhouse JPMorgan Chase. This achievement signifies that Ethereum is not only an effective platform for smart contracts but also possesses the capabilities to hold its own when evaluated in a financial technology context.
An interesting finding from Token Terminal is that Ethereum’s relatively young age, which is around nine years, stands out when compared to the typical age of companies on the list, averaging at 44 years. For instance, JPMorgan Chase has been operational since 1799, while Ethereum came into existence only in 2015.
$200B plus finance & tech companies ranked based on buyback yield
ethereum ranks #16
ethereum is only 9 years old, when the median age of the other S&P 500 companies on the list is 44 years
goes to show how scalable & profitable Internet-native businesses can be at best
— Token Terminal (@tokenterminal) April 18, 2024
Using this distinction, Token Terminal emphasized the profitability of businesses that originate on the internet, particularly when their groundbreaking ideas are unhindered.
Ethereum changes Web3 game
Each organization on the buyback yield roster offers something distinct and noteworthy. Similarly, Ethereum possesses its unique qualities. While JPMorgan is known as the largest American bank, Alphabet Inc., leading the rankings, is a tech and cloud services behemoth.
Ethereum functions as a platform for creating smart contracts, leading the charge for developers to construct decentralized finance apps. This has significantly expanded Ethereum’s decentralized finance sector, reaching a total value of $92.74 billion.
Ethereum ranks as the second most favored cryptocurrency among large investors, following Bitcoin. Notably, Ethereum spearheads the movement towards Web3 technology adoption. Moreover, it is undergoing several improvements aimed at expanding its capabilities within the crypto market.
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2024-04-19 12:33